WTI $40.75 -45c, Brent $43.37 -42c, Diff -$2.62 +3c. NG $1.72 -5c

Oil price

Oil is dithering, another record day for COVID-19 yesterday as the US reported over 75,000 new cases but there are other countries vying for the unenviable record. Today oil is off around 40 cents ahead of the rig count.

Reabold Resources/Deltic Energy

I note the further statement by Reabold this morning with regard to the ‘possible offer’ for Deltic Energy. It seems that the areas of difference are going to be around West Newton and of course price and whilst this isn’t an actual bid yet the price mentioned seems at first glance look like a bit of a ‘sighter’. Also RBD aren’t quite sure whether the Deltic wells are exploration or appraisal…

Whilst I have had a number of enquiries from shareholders of both companies it seems that neither management is either able or keen to talk about what is going on. I have calls into both companies which have not been replied to since yesterday and I note that neither company has IR/PR representation in this process.

I will comment next week with or without management input but hopefully with. However if this drought continues I guess shareholders will only be able to rely on statements from the company to answer questions from management about their plans…

Angus Energy

Yesterday I managed to get George Lucan in front of the Core Finance cameras as there has been much going on at Angus Energy, the link to the interview is below.

Core Finance CEO Interview: George Lucan of Angus Energy

KeyFacts Energy Industry Directory: Malcy's Blog